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How much does it cost to set up a living trust in Washington state?

Joint trusts are a type of living trust created by two people (usually a married couple) that allows them to combine their assets into one trust. This approach can simplify estate planning, but it also has some drawbacks that should be considered.

Do you need a trust if you have only one child?

People with fewer assets, a modest estate, or just a relatively simple estate distribution plan most likely dont need a living trust, which, incidentally, generally has more upfront costs than writing a willand that may also be a consideration in deciding whether you need to include a living trust in your estate plan

Can a husband and wife have a joint living trust?

A living trust (also called an inter vivos trust) is simply a trust you create while youre alive. The beneficiaries you name in your living trust receive the trust property when you die.

Do you need a living trust if you only have one child?

Your estate plan is entirely your decision, and you are free to leave your assets to others, such as other family members, friends, or charitable organizations, should you choose. If you do wish to leave something to your child but are concerned about their ability to manage it, a trust can be an excellent solution.